Journal Entries Date Particulars Dr Cr Jan 1 Mr. Bon Hok A/c Cash A/c (Being cash withdraw) P20,000 P20,000 Cash A/c Mr. Ok A/c (Being additional contribution made) Jan 2 P30,000 P30,000 Jan 3 P10,000 Mr. Meng A/c Sales. A/c (Being goods sold on account) P10,000 Cash A/c Mr. Hok A/c (Being borrowed money from Hok) Jan 4 P50,000 P50,000 Cash A/c Mr. Meng A/c (Being amount received from Mr. Meng) Jan 5 P10,000 P10,000 Mr. Hok A/c Cash A/c (Being half of borrowing paid) Jan 6 P25,000 P25,000 Mr. Ok A/c Cash A/c (Being Mr. Ok withdraw cash) Jan 7 P20,000 P20,000 Profit & Loss A/c To partners Capital (Being profit distributed to partners) Jan 8 P80,000 P80,000

Journal Entries Date Particulars Dr Cr Jan 1 Mr. Bon Hok A/c Cash A/c (Being cash withdraw) P20,000 P20,000 Cash A/c Mr. Ok A/c (Being additional contribution made) Jan 2 P30,000 P30,000 Jan 3 P10,000 Mr. Meng A/c Sales. A/c (Being goods sold on account) P10,000 Cash A/c Mr. Hok A/c (Being borrowed money from Hok) Jan 4 P50,000 P50,000 Cash A/c Mr. Meng A/c (Being amount received from Mr. Meng) Jan 5 P10,000 P10,000 Mr. Hok A/c Cash A/c (Being half of borrowing paid) Jan 6 P25,000 P25,000 Mr. Ok A/c Cash A/c (Being Mr. Ok withdraw cash) Jan 7 P20,000 P20,000 Profit & Loss A/c To partners Capital (Being profit distributed to partners) Jan 8 P80,000 P80,000

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter24: Recording International And Internet Sales

Section24.1: Recording International Sales

Problem 1OYO

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